R.I. must lower taxes to attract DraftKings, FanDuel, report finds
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Spectrum's report recommends between four and six companies be awarded licenses in the state, noting that every other state in New England has multiple vendors.
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Yes, but:
The report found that 'absent changes to the state's online sports wagering to make it more competitive, Spectrum believes there would not be a market response to opening the state to additional operators.'
Spectrum outlined several recommendations for making the state more attractive to other companies, including lowering the effective tax rate to be more in line with neighboring states.
It also suggests that there may need to be a change to the state constitution to allow online betting servers to be hosted outside of the state's two existing casinos in Lincoln and Tiverton.
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The bigger picture:
Rhode Island was the first state in New England to legalize sports betting (both in-person and online), but efforts to appease existing Rhode Island companies (IGT and Bally's) and generate as much tax revenue as possible has left the state in a pickle.
The rest of the region now offers more options to gamblers and has lower tax rates for operators. That makes the path to bringing DraftKings or FanDuel to the state more complicated than passing a single piece of legislation.
Then again, after that brutal loss by the Knicks last night, maybe sports betting should be banned entirely.
This story first appeared in Rhode Map, our free newsletter about Rhode Island that also contains information about local events, links to interesting stories, and more. If you'd like to receive it via email Monday through Friday,
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Dan McGowan can be reached at
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